Not If But How High Will Mortgage Rates Go?

Our rates are continuing to move higher this Morning after everyone digest the news from yesterday. We certainly can see the Feds will continue to do whatever is needed to slow the economy down to prevent the bad side of INFLATION. The only problem we see is part of the slow down (a big Part) is the housing market. As rates continue up they will take a bite out of the housing market each time. Of course that is all part of what the Feds want. We need to remember that Mortgage Rates are very low and even with them going to 7.5% they would still be very low by normal guidelines. Yes the borrower has been "spoiled" by these great rates but higher rates do not mean the end of buying homes. Is it possible we might have to buy a little more moderate home? www.rateinformer.com